You can find it here in Salt Lake City, at an in-person gathering of developers focused on the Solana blockchain, known as “mtnDAO.” The common theme? They’re geeks, and they’re rich – a natural demographic for testing out the newly released devices, which can cost upwards of $5,000 including accessories. Source
The approval of the spot bitcoin ETFs constituted a landmark event for the $1.7 trillion digital asset industry. With institutional investors on board, demand for bitcoin will grow significantly. Source
Lawyers for the Crypto Open Patent Alliance declared that the recollection of the witnesses today was “hazy” and “confused.” Source
Take a look at the frontpage of CoinDesk today and you could be forgiven for thinking our site is all about Bitcoin. Just look at the headlines: BTC is above $50k. Options traders are betting on $75,000. Bitcoin’s market cap is back above $1 trillion. Bitcoin ETFs have accumulated $11 billion since being approved in the U.S. in January. The Fear and Greed Index, a measure of market sentiment, is in “extreme greed” territory, its frothiest moment since BTC’s all-time high in September 2021. Bitcoin is even a campaign meme.…
According to the company’s most recent investor presentation, MicroStrategy at the end of January held 190,000 bitcoins purchased for a total of $5.93 billion, or $31,224 per coin. MicroStrategy began acquiring bitcoin in the second quarter of 2020, and has purchased additional tokens every quarter since. In December last year, the company was sitting on a profit of nearly $2 billion, but that’s since doubled thanks to bitcon’s more than 20% rally since the start of 2024. Source
Chainalysis said $22.2 billion was laundered via crypto in 2023, down from $31.5 billion the year before. The drop was steeper than the decrease in transaction volumes, suggesting that factors beyond just the general market downturn may have contributed to the reduction in illicit activity. The figures suggest that only about 1% of all money laundering is carried out with crypto. The value of all illicit funds laundered is about $2 trillion a year, Deloitte wrote in a June 2023 report. Source
Coinbase shares rose 6.5% to $170.80 in premarket trading. Other crypto-related stocks also rose as bitcoin, the world’s largest cryptocurrency, was trading around its recent highs of $52,400. MicroStrategy (MSTR) rose 3% and Marathon Digital (MARA) gained 3.5%. Source
The Binance-owned wallet has been the victim of multiple cyber attacks during 2023. Source
The present bias towards long positions means potential for a long squeeze, where investors who hold long positions feel the need to sell into a falling market to cut their losses, thereby creating a liquidation cascade. A similar build-up in late December peaked at $1.37 billion – preceding a drop from $120 to $83, or 30%, at the time. Source
Ether’s 14-week RSI has topped 70, a threshold that marked previous parabolic bull runs. Source